GE HealthCare Technologies Inc. (NASDAQ:GEHC) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) have earned an average recommendation of “Moderate Buy” from the twenty-three analysts that are covering the firm, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $78.35.

A number of research analysts have weighed in on the stock. Citigroup dropped their target price on shares of GE HealthCare Technologies from $75.00 to $71.00 and set a “neutral” rating on the stock in a research note on Monday, October 5th. Evercore restated an “outperform” rating and set a $84.00 price target on shares of GE HealthCare Technologies in a research note on Thursday, July 30th. BTIG Research decreased their price target on shares of GE HealthCare Technologies from $79.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Wolfe Research assumed coverage on shares of GE HealthCare Technologies in a report on Tuesday. They issued a “peer perform” rating on the stock. Finally, UBS Group upped their price objective on GE HealthCare Technologies from $67.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, July 31st.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Auto Owners Insurance Co grew its position in GE HealthCare Technologies by 9,525.4% during the fourth quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company’s stock worth $278,725,000 after buying an additional 33,629,559 shares in the last quarter. State Street Corp increased its stake in GE HealthCare Technologies by 1.6% in the 2nd quarter. State Street Corp now owns 20,861,566 shares of the company’s stock worth $1,335,349,000 after acquiring an additional 323,090 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of GE HealthCare Technologies by 13.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company’s stock valued at $861,307,000 after acquiring an additional 1,571,226 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of GE HealthCare Technologies by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,399,439 shares of the company’s stock valued at $384,219,000 after acquiring an additional 105,995 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of GE HealthCare Technologies by 4.1% during the 2nd quarter. Van ECK Associates Corp now owns 4,482,631 shares of the company’s stock valued at $286,933,000 after acquiring an additional 177,028 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Down 1.7%

GEHC opened at $69.01 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.26 and a quick ratio of 0.97. The company’s 50-day moving average is $68.36 and its 200 day moving average is $66.75. GE HealthCare Technologies has a fifty-two week low of $58.75 and a fifty-two week high of $89.77. The firm has a market capitalization of $31.17 billion, a P/E ratio of 15.83, a PEG ratio of 1.85 and a beta of 0.73.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.06 EPS. Research analysts expect that GE HealthCare Technologies will post 4.93 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 23rd will be issued a $0.04 dividend. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.0350. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $0.16 annualized dividend and a yield of 0.2%. GE HealthCare Technologies’s payout ratio is 3.67%.

About GE HealthCare Technologies

GE HealthCare Technologies Inc is a global medical technology company that develops and provides products, services and digital solutions for healthcare providers. Its offerings are designed to support the diagnosis, treatment and monitoring of patients across hospitals, outpatient facilities, imaging centers and other care settings.

The company’s portfolio includes medical imaging systems such as computed tomography, magnetic resonance imaging, molecular imaging, surgical imaging and X-ray equipment.